How will you change your strategy? Retakers Edition

B

Bachatero2014

New member
Joined
Jan 27, 2015
Messages
0
Reaction score
0
Band 7 here. I feel your pain if you got unpleasant news this mornings. But I’m not done and I’m sure many of you will retake the exam in 2016. So how will you change your strategy? I’m a little bit conflicted here. I passed L1 in Dec and used Wiley starting in Jan. I was surprised when I found out that I got under 50% in 4 subjects with 400 hours of studying. Def not Wiley’s fault but it does make me reconsider my approach. I was thinking maybe I’ll just say F!!! it and start studying in Sept just using CFAI.
Anyone else feel surprised with their performance relying on a 3rd party provider?
 
I passed this year, but failed before, so maybe I can help.
1. Use CFAI materials (including EOCs). I did use Kaplan’s Qbank for soft study and repitition.
2. Read the actual LOS and keep a notepad outlining the answers to them.
3. Buy Wiley’s 11th-hour guide for the last few days of conceptual study.
 
^
Retaker here. Plan on using Wiley videos supplemented with Schweser/CFAI readings and CFAI EOCs and tons and tons of Qbank…
 
Bachatero, I’ve been kind of studying this past month because I was fairly sure I didn’t pass. I used Wiley too and still think it’s better than Schweser. Still, I got seriously spanked on the PM section. I’ve been reading CFAI Fixed Income. I swear I did all the EOC 2x and most of the Blue Boxes but I’m still surprised at the sublety I’m picking up from the CFAI reading. Just stuff that I chalked up while doing problems as not important or “mistakes” - God knows there were enough threads about not being able to calc the Wiley derivatives answers. I chalked it up to rounding errors but maybe we were missing something all along. I got The Lowest Passing Matrix ever, for sure. I’m reading CFAI all the way for Level III. Punt Wiley. Punt Schweser. (Except the 11th Hour Guide, which I’ll swear by.)
 
I think “punting” 3rd parties is a bit extreme. Nothing like studying from the source and I did that for L2, but I also had Schweser in play big time. It’s always helpful to get another viewpoint on certain readings that the third party providers, uh, provide.
And since second (or even third or fourth) read throughs are essential (hello FRA), the CFAI curriculum is just too enormous to effectively do that unless you start studying like… now. I used Schweser exclusively for my additional read through/reviews and then used CFAI for blue boxes and EOCs. If there were points of confusion I would trace back to the CFAI readings.
I’ve never used Wiley but I thought a combination of CFAI and Schweser prepared me very well for the 2015 L2 exam.
 
thx for the info guys I’m happy for you…..(deep down I hate you -____-) haha. I feel the CFAI is the way to go but it really is too enormous. How many months did you guys study for? I studied for 5 and I dont believe I absored the information
 
lammy wrote:
Bachatero, I’ve been kind of studying this past month because I was fairly sure I didn’t pass. I used Wiley too and still think it’s better than Schweser. Still, I got seriously spanked on the PM section. I’ve been reading CFAI Fixed Income. I swear I did all the EOC 2x and most of the Blue Boxes but I’m still surprised at the sublety I’m picking up from the CFAI reading. Just stuff that I chalked up while doing problems as not important or “mistakes” - God knows there were enough threads about not being able to calc the Wiley derivatives answers. I chalked it up to rounding errors but maybe we were missing something all along. I got The Lowest Passing Matrix ever, for sure. I’m reading CFAI all the way for Level III. Punt Wiley. Punt Schweser. (Except the 11th Hour Guide, which I’ll swear by.)
Click to expand...
Agreed, for stuff like pension cost versus pension expense, I distinctively remembering Kaplan not addressing these in Schweser notes (I could be wrong), but it was pointed out in CFAI and in Wiley’s 11th-hour guide. Obviously I can’t address specifics on the test, but I felt nuances *like that* helped me this time.
Also, the differences between intercorporate investments seemed a little light to me in Kaplan. CFAI told us what it was now and where it’s going. And also transfers from one designation to another were covered better. (Again, this may or may not have occured on the test).
 
Yeah, ltj, you’re right. ”Punting” is too extreme. God knows that i probably couldn’t understand the CFAI reading if I hadn’t covered the material with Wiley first. Maybe it would be helpful to read the CFAI material for the more heavily tested subjects this time around?
I started studying late March/early April. I wouldn’t advise it as a strategy since I was pretty sick to my stomach with stress the whole time through. + I had a lot of vacation time I could draw down.
 
I’m going to read the CFAI curriculum books this time and take some light notes on what I already know are important concepts. Use the Wiley guides for review and go through all the EOCs and blue boxes again, focusing on Corp Fin and FI which I didn’t do well enough in. I’ll probably go through all of Basit and Peter’s Wiley videos again as well. I may buy Schweser mocks and Qbank as well this time if they offer them ala carte as I felt Wiley’s practice questions and mocks left a lot to be desired. Maybe they improve this area in 2016.
I’m still surprised I did so poorly in Corp Fin. I felt like I had that topic pretty well nailed and I knew all the formulas. I’m not sure what went wrong, but it’ll be something I focus on for round 2 with this beast.
 
JayWill wrote:
I’m going to read the CFAI curriculum books this time and take some light notes on what I already know are important concepts. Use the Wiley guides for review and go through all the EOCs and blue boxes again, focusing on Corp Fin and FI which I didn’t do well enough in. I’ll probably go through all of Basit and Peter’s Wiley videos again as well. I may buy Schweser mocks and Qbank as well this time if they offer them ala carte as I felt Wiley’s practice questions and mocks left a lot to be desired. Maybe they improve this area in 2016.
I’m still surprised I did so poorly in Corp Fin. I felt like I had that topic pretty well nailed and I knew all the formulas. I’m not sure what went wrong, but it’ll be something I focus on for round 2 with this beast.
Click to expand...
One more thing, I did use Kaplan’s Quicksheet as a must know. It’s only 5-6 pages. If you don’t know the material on those pages fully, then you should study them. I knew that by second nature when I went in.
 
Posted this in another thread but it’s applicable here:
Quote:
Now that L2 results are in, I thought it might be a good idea to revisit this topic. Many people said that using 3rd party study guides as your sole resource was not sufficient for passing L2, but that was my strategy, and I had no problem passing.
I used Schweser (books and Qbank). I can only recall one question on the exam where the answer involved something that wasn’t in the Schweser readings. Fortunately, the other two answers were, so I was able to arrive at the correct answer.
>70% in everything with the exception of corp fin
Click to expand...
You do not need CFAI material to pass. At all. Honestly, I think people who say this are just searching for an excuse at to why they may have failed.
 
Bachatero2014 wrote:
yo CapdYa and JayWill when you guys gonna start again?
Click to expand...


My plan rough game plan right now:

Oct - Nov: Full read through of CFAI books (including blue boxes) with light notes
Dec - March: Review study guides, Wiley videos, CFAI EOCs, CFAI practice questions
April - May: Hardcore practice (mocks/practice questions), commit formulas to memory, general review of notes and core concepts

Bottom line I’m starting October 1st and plan to work at a slower more measured pace while trying to keep everything as fresh as possible along the way via regular review and practice questions. I was Band 9 so with enough work I should be able to crush it if I can manage to study smart and improve on my weaker subjects.
 
hookem89 wrote:
You do not need CFAI material to pass. At all. Honestly, I think people who say this are just searching for an excuse at to why they may have failed.
Click to expand...
I realize that, but it can’t hurt to do a read through as long as you have the time and are confident that it won’t lead to burn out.
 
Just make sure you nail Equity and FRA the 2 big hitters. If you know it back to front you’ll be pretty much there…that’s the focus I changed when i had to do L2 for the 3rd time and passed this year.
 
So you are recommending reading all the CFA text only to go back and hammer away with condensed review version of Wiley then go back to the text and do EOCs?
My study plan is the opposite
Hit the review material first, then do CFA EOC as i go through the schweser/wiley review material - then work a crapload of questions, mocks, and videos if time permits
Original cfa text readings on weak areas
 
JayWill wrote:
Bachatero2014 wrote:
yo CapdYa and JayWill when you guys gonna start again?
Click to expand...


My plan rough game plan right now:

Oct - Nov: Full read through of CFAI books (including blue boxes) with light notes
Dec - March: Review study guides, Wiley videos, CFAI EOCs, CFAI practice questions
April - May: Hardcore practice (mocks/practice questions), commit formulas to memory, general review of notes and core concepts

Bottom line I’m starting October 1st and plan to work at a slower more measured pace while trying to keep everything as fresh as possible along the way via regular review and practice questions. I was Band 9 so with enough work I should be able to crush it if I can manage to study smart and improve on my weaker subjects.
Click to expand...
Good plan. I was going to start around Oct-Nov as well… Ordered Schweser this time around to hammer more questions and get the 6 full-length mocks in paper. I can do Qbank at work which is nice to keep concepts fresh. Hit CFAI material for harder subjects and Wiley vids for FRA, etc….
 
Band 10 fail here. I didn’t think CFAI mock exams were reflective the actual exam when I took it. There were a lot of freebie questions during the exam that I would have been able to answer correctly if I just knew the formula or how to solve it.
I think this time I’ll cover the CFAI and do EOC questions along with watching Wiley videos.
 
blackscholesvol wrote:
Band 10 fail here. I didn’t think CFAI mock exams were reflective the actual exam when I took it. There were a lot of freebie questions during the exam that I would have been able to answer correctly if I just knew the formula or how to solve it.
I think this time I’ll cover the CFAI and do EOC questions along with watching Wiley videos.
Click to expand...
Felt the exact same way. Probably at least a handful.
 
I’ve always sensed a bias against using Schweser on here. I can say, hand on heart, that Schwesr helped me immensely in my preparation. Use it.
 
You must log in or register to reply here.
Back
Top